Going Granular – March 17, 2010
FMX | Connect – www.fmxconnect.com - (Reported 3/17/2010)
Going Granular provides a synopsis of overnight activity with brief market commentary from industry professionals.
Ags were up marginally before trading closed this morning. May wheat was up .2 to $4.87/bushel, corn was up 1.4 to $3.68/bushel, and soybeans were up 1.2 to $9.46/bushel. The U.S. Dollar index for June was down .075 to 79.92.
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Bloomberg (Reported 3/17/2010)
“Corn increased for a second day in Chicago on concern about potential planting delays in the U.S. caused by flooding.
One-third of the U.S., the world’s biggest corn grower and exporter, faces possible “historic flooding,” government forecasters said yesterday. That includes the upper Midwest states of North Dakota, South Dakota, Minnesota and Iowa.” Corn Gains for Second Day on Potential Flooding in U.S. Midwest
Farm Futures (Reported 3/17/2010)
“Futures try for a stronger open this morning, after attracting a little follow-through buying overnight, spurred by yesterday's gains and a positive reaction to the latest news out of the Federal Reserve. However, the market still seems to lack direction this morning.
Corn could open a little stronger, but is still have trouble generating much enthusiasm for a March rally. Trading was very thin overnight, and volume was again sluggish on Tuesday.” Morning Call by Bryce Knorr
Corn Technical Chart
FMX GRAIN REPORT :
Grains – Technical Report – March 16, 2010
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